LAS VEGAS, Oct. 30, 2024 (GLOBE NEWSWIRE) — Stardog, the enterprise data and AI company dedicated to providing businesses with accurate, fast, and easy access to their data so that they can make better business decisions today at Money20/20 announced the General Availability of Stardog Voicebox Wealth Assistant, the first GenAI app built specifically for wealth advisory professionals. Stardog Voicebox Wealth Assistant relies on Stardog’s 100% hallucination-free, LLM-powered Voicebox offering to help wealth advisors offer better investment decisions to their clients.
The McKinsey Global Institute (MGI) estimates that across all of banking—wholesale and retail—GenAI could add between $200 billion and $340 billion in value through, for example, greater productivity1. Yet, despite the obvious opportunity for generative AI to make an impact in the financial services space, banks have been slow to adopt, with recent reports citing more than one-third of banks banning the use of GenAI2.
“Stardog Voicebox Wealth Assistant helps improve financial advisors’ effectiveness by enabling them to quickly access and make decisions based on economist research and domain expertise that is otherwise inaccessible or cost prohibitive to obtain,” said Stardog CTO for Financial Services, Matt Lucas, who also spent 10 years at Morgan Stanley leading technology implementation. “For example, advisors can be on client calls and ask the platform ‘what funds have greater than 25% exposure in the information technology sector with less than 10% exposure to the state of California and have at least 70% exposure to equities’, and provide their clients with instant results.”
Stardog Voicebox Wealth Assistant is built on Stardog’s hallucination-free, LLM-powered product offering, Voicebox, and is an accelerator for financial advisors to get domain-specific insights faster. To enable this next generation solution, Stardog is taking Voicebox, its conversational data platform, and applying it to hard to integrate and navigate financial data. The end result enables wealth advisors to ask questions using ordinary language and get immediate answers based on trusted, timely, and accurate organizational data, 100% hallucination-free.
“Financial institutions haven’t fully bought into GenAI yet and it’s easy to understand why,” said Lucas. “In many cases LLM-powered apps aren’t following safe GenAI practices. Most GenAI solutions focus on producing quick results at the cost of transparency and accuracy these solutions expose users to hallucinations that are a real problem for banks. These challenges could threaten institutions with significant monetary and legal ramifications.
“At Stardog, we’re locked-in on accuracy and safety so we can provide the power of GenAI to even the most regulated industries,” said Stardog Founder and CEO Kendall Clark.
Stardog overcomes these hallucinations, which occur at a nearly 7% rate on leading LLM platforms3 and are the number one barrier to GenAI adoption across financial services, by building Voicebox with its leading native knowledge graph platform and semantic parsing-based agents.
Stardog Voicebox Wealth Assistant and Stardog Voicebox are available now. For more information visit stardog.ai
About Stardog
Stardog is a Data and AI company dedicated to helping enterprise companies in highly regulated industries make better decisions with data. Our Financial Services and Insurance customers leverage Stardog’s AI Data Assistant and Platform, Voicebox, for a 100% hallucination-free GenAI experience. Powered by our award winning W3C standards based knowledge graph technology, Stardog enables enterprises to unify their data based on business context and delivers fast, accurate, and hallucination-free responses to critical business questions. Organizations like Morgan Stanley, Boehringer Ingelheim, Bosch, and NASA trust Stardog with their most mission critical data.
With Solutions for Fraud Detection & AML/KYC to Risk Management across Retail, Payments, Banking, Wealth and Insurance, business users can now get the insights they need, when they need it. For more information, visit http://www.stardog.com.
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